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MMIT - IQ MacKay Shields Municipal Intermediate ETF

Stock Price: $26.87 USD 0.02 (0.08%)
Updated Apr 19, 2021 4:00 PM EDT - Market closed
Assets $115.41M
NAV $26.84
Expense Ratio 0.30%
PE Ratio n/a
Beta (5Y) 0.03
Dividend (ttm) $0.61
Dividend Yield 2.25%
Ex-Dividend Date Apr 1, 2021
1-Year Return -
Trading Day April 19
Last Price $26.87
Previous Close $26.85
Change ($) 0.02
Change (%) 0.08%
Day's Open 26.89
Day's Range 26.84 - 26.89
Day's Volume 65,528
52-Week Range 24.62 - 27.16

Fund Description

The investment seeks current income exempt from federal income tax. The fund is an actively managed ETF and thus does not seek to replicate the performance of a specific index. Instead, it uses an active management strategy to meet its investment objective. The fund, under normal circumstances, invests at least 80% of its assets (net assets plus borrowings for investment purposes) in debt securities whose interest is, in the opinion of bond counsel for the issuer at the time of issuance, exempt from federal income tax (Municipal Bonds). It does not intend to invest in Municipal Bonds whose interest is subject to the federal alternative minimum tax.

Asset Class
Fixed Income
Inception Date
Oct 18, 2017
Exchange
NYSEARCA
Ticker Symbol
MMIT
Index Tracked
Bloomberg Barclays Municipal 1-15 Year Index

Top 10 Holdings

30.64% of assets
NameSymbolWeight
Fidelity® Inv MM Fds Treasury Only In/a17.08%
METROPOLITAN TRANSN AUTH N Y REV 4.75%n/a4.70%
NORTH LAS VEGAS NEV 5%n/a1.26%
CLARK CNTY NEV SCH DIST 5%n/a1.16%
RIVERSIDE CNTY CALIF CMNTY FACS DISTS 4%n/a1.13%
NEW JERSEY ECONOMIC DEV AUTH MTR VEH SURCHARGES REV 4%n/a1.11%
CENTRAL FLA EXPWY AUTH SR LIENREV 4%n/a1.09%
MIAMI-DADE CNTY FLA WTR & SWR REV 4%n/a1.09%
APPLE VY CALIF PUB FING AUTH TAX ALLOCATION REV 4%n/a1.08%
MISSOURI ST HEALTH & EDL FACS AUTH HEALTH FACS REV 4.5%n/a0.96%
View More Holdings

Dividends

Ex-DividendAmountPay Date
Apr 1, 2021$0.033Apr 8, 2021
Mar 1, 2021$0.038Mar 5, 2021
Feb 1, 2021$0.048Feb 5, 2021
Dec 30, 2020$0.071Jan 7, 2021
Nov 2, 2020$0.05Nov 6, 2020
Oct 1, 2020$0.048Oct 7, 2020
Full Dividend History

News

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The coronavirus pandemic triggered widespread market volatility, but it also offered an opportunity for active managers to position in attractively priced areas of the market. Fixed-income investors can...

Other tickers mentioned: MMIN
9 months ago - ETF Trends

ETF Trends CEO Tom Lydon discussed the IQ MacKay Shields Municipal Intermediate (MMIT) on this week’s “ETF of the Week” podcast with Chuck Jaffe on the MoneyLife Show. MMIT seeks current income exempt f...

1 year ago - ETF Trends

As bond investors look to the current municipal bond landscape, one may consider targeted exchange traded fund strategies to incorporate munis into a diversified fixed-income portfolio better. In the re...

Other tickers mentioned: MMIN
1 year ago - ETF Trends

Municipal bonds offer investors another avenue for income generation beyond the traditional Aggregate Bond Index exposures, providing opportunities to enhance and diversify yields. In the upcoming webca...

Other tickers mentioned: MMIN
1 year ago - ETF Trends